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  • Tankosphere Today: Oct 28, 2008

    A new report by the OECD, Growing Unequal? Income Distribution and Poverty in OECD Countries, warns: “Poverty is rising in OECD countries. Over the past 20 years, it has risen from 9.3% to 10.6%, as an average for the 30 member countries.”…

    In today’s Wall Street Journal, Robert Carroll of the Tax Foundation points out that John McCain’s health care reform plan does two things progressives would normally cheer. First, it redistributes the tax benefits that current law provides for the purchase of health insurance in a progressive direction…

    The Washington Post reports today that the bad economy is forcing budget cuts for the Fairfax County school district. The cuts could include “no cost-of-living raise for teachers, an increase in class size and elimination of such services as busing to centers for gifted and talented students.”…

    Here is what the country is about to get more of if liberals take total control of Congress and the Presidency. Rep. Barney Frank says we need to put concerns about the deficit to the side, and usher in a dose of Keynesian economics…

    Posted in Ongoing Priorities [slideshow_deploy]

    2 Responses to Tankosphere Today: Oct 28, 2008

    1. Ken, Venice, Florida says:

      It seems like the government is throwing more money daily at credit availability, while less credit availability is what is needed to set things right.

      It's not just the big sub-prime mortgage flap; it's the entire way of life nowadays of living progressively more leveraged to maintain a nice lifestyle while jobs are deteriorating and the dollar is dropping.

      Look at all the yachts moored at the local marina and ask yourself how many of them are paid for? People are putting everything from Harleys to tattoos to housing on credit and hoping for true growth to come along and reimburse them someday. The growth they see and pay taxes on is largely inflationary.

      Only by denying credit, which is hahppening naturally now, can we climb out of this hole. But NO, the gummint is responding and saving the day with enabling bailouts and cash "rebates" to those who never even paid taxes. Half of those to get Obama's tax "savings" will have not paid in taxes in the first place. Pelosi wants another 'rebate.

      The system as it is requires the leverage of old, and the remedies being applied do nothing to change that. It's time more equity be required in lending, and the enabling to cease.

    2. Ken, Venice, Florida says:

      Following up on the idea of letting credit remain tight until things settle down:

      The two major party candidates both promoted the bailouts. McCain raced back to Washington to assist in getting a bill passed after it had failed – and added another 150 Billion in the process!

      Both parties want to keep the cycle of overborrowing and overproducing intact so they can say they kept up employment and sales. The trouble is, it all has to be paid for.

      They are both socialist.

      Only Bob Barr offers a better way to organize government involvement, or disinvolvement, in business and personal life in America. Or in international relations for that matter. It's going to take a lot more "change" than Obama or McCain are offering.

      It's going to take a change back to the Constitutionally limited government of long ago.

      If only conservative outfits would support him, he might have chance, even now. But even the NRA, whose board he serves on, endorsed C-rated McCain over A plus rated Bob Barr…just to keep Obama out of office.

      The two party system is really two sides of the same coin, with a little different approach on the same coin of big government. Someone has to break the momentum and support a third party, or we will spend ourselves into inflationary disaster.

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